17th Feb 2023 11:08
(Alliance News) - Benchmark Holdings PLC on Friday said it acquired the remaining 10.5% minority interest in its subsidiary Benchmark Genetics Iceland.
The West Sussex, England-based aquaculture biotechnology company said Benchmark Genetics Iceland is "core to the company's ability to supply highly specialist, biosecure salmon eggs" to salmon producers in around 35 countries, as it represents 50% of the group's total salmon egg capacity.
Benchmark Genetics Iceland has been enhanced by the recent construction of a new incubation centre, it noted.
In December 2014, Benchmark acquired an 89.5% interest in Stofniskur, before rebranding it to Benchmark Genetics Iceland and merging it with its salmon genetics business in Norway.
The business has grown substantially since the acquisition, the company said, benefiting from Benchmark's "leading market position, investment and knowledge transfer" within the group.
"Benchmark's genetics operations in Iceland have a 200 million egg capacity and are core to our ability to supply highly biosecure salmon eggs year round to customers around the world," said Benchmark Chief Executive Officer Trond Williksen.
"The acquisition of the remaining minority interest is a natural step in delivering shareholder value through full ownership of the success of our genetics business."
Shares in Benchmark were down 4.1% to 36.15 pence each in London on Friday morning.
By Greg Rosenvinge, Alliance News reporter
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